Friday, 30 January 2015
Last updated 10 hours ago
May 14 2013 | 10:37am ET
Steven Cohen's ex-wife is in need of a new lawyer to handle her lawsuit against the SAC Capital Advisors founder—again.
Howard Foster and Matthew Galin, who have served as Patricia Cohen's lawyers since 2010, have asked a Manhattan federal court judge for permission to withdraw from the case. The two said their split with Cohen was "a mutual decision" and that Cohen planned to hire a new lawyer within 30 days.
Patricia Cohen's explosive lawsuit against her ex-husband was reinstated last month. In the racketeering suit, she alleges that Steven Cohen hid $5.5 million from a real-estate settlement during their 1991 divorce, and is seeking $8.5 million in damages. The suit, in which Patricia originally sought a controlling stake in SAC, was dismissed in 2011, but was revived by a federal appeals court in April.
Foster has been Cohen's longest-serving lawyer since she brought the case in 2009. Late last month, the New York Post reported that she was interviewing trial lawyers about joining the case, although Foster had been given the option to remain on it. She previously parted ways with two other lawyers.
SAC has called the lawsuit little more than an extortion attempt.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…